Blockchain indicators indicate that the rebound from earlier this month could pave the way for a reversal of September’s downward trend and an 18% loss in its value, giving a promising outlook for the Shiba Inu coin price as the meme coin sees the arrival of notable investments and the interaction of new wallet addresses with the blockchain at unprecedented levels previously. Like this in two and a half months.
The general mood around the currency is optimistic; The long-term holding indicator reveals an average unrealized gain of 0.85 times, which is far from the typical range of sell-offs for profit-taking purposes.
Decreasing selling pressure may also reduce the severity of price fluctuations and give the Shiba Inu coin a more solid foundation for a gradual recovery in conjunction with the entry of new and smaller players into the market. Being exposed to less intense selling pressure allows it to receive institutional investments which allow its price to stabilize, particularly with the arrival of a wave of small investors. New on the market.
Shiba Inu Coin Price Forecast: New Support Level Suggests Recording the Lowest Possible Levels for the Current Time Frame
The Shiba Inu currency could currently provide the last buying opportunity, taking advantage of the dip before the breakout to the upside, as the triangle pattern that began to form 6 months ago is nearing completion, and the meme currency is currently retesting the historically important demand zone around $0.000012, which has repeatedly managed to stop the bearish waves and reverse the price course during the period of stability.
The currency price movements could see an extended reversal that would pave the way for an upside breakout if the support level holds, which would allow the price to rise by 90% towards $0.000024, andThe rally could extend to $0.00005 (up 300%) If interest rate cuts extend into 2026 and the currency succeeds in receiving investment from traditional financial institutions via exchange-traded funds (ETFs).
However, momentum indicators confirm the need for caution. While movements in the Relative Strength Index (RSI) failed to penetrate the midline, indicating that sellers have outperformed buyers, the MACD indicator line is also heading towards the formation of a possible death cross below the signal line, suggesting that the current decline is the prelude to a stronger correction. It is possible that we may see a breakout of support in the amount of $0.00012, which would threaten to wipe out the significance of the uptrend and continue moving lower. Aim for the next support level at $0.00001.
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The currency’s price prediction post Shiba Inu-SHIB after receiving support following its 18% decline. Is now the ideal time to buy? appeared first on Cryptonews Arabic.
